Ritchie Bros. Auctioneers sells largest all terrain crane in Company history at unreserved auction in Spain

The massive 2008 Terex Demag AC700 all terrain crane was sold for €2,500,000 (more than US$3.3 million) to a local buyer from northern Spain on Day Two (June 7) of the two-day Ocaña/Moncofa, Spain unreserved public auction

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OCAÑA, Spain, June 12, 2013 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than 3,100 heavy equipment items, including 30 all terrain cranes, during a two-day, multi-million euro unreserved public auction held last week (June 6 - 7) in Spain. More than 1,690 people from 76 countries registered to bid at the auction, simultaneously held in Ocaña (central Spain) and Moncofa (close to Valencia). The sale of a 2008 Terex Demag AC700, the largest all terrain crane ever sold in the Company's history, was among the highlights of last week's unreserved public auction. The successful bidder, coming from the province of Alava in the north of Spain, participated in person at the Ocaña auction site and purchased the 700-ton lifting capacity all terrain crane for €2,500,000 (more than US$3.3 million).

"We specialize in the rental of heavy-tonnage cranes and this was the opportunity to acquire quality cranes at fair market value," said Miguel Angel Ibisate, General Manager of Gruas Ibisate SL, a Vitoria-Gasteiz-based crane rental company with more than 50 years of experience in the rental and transport of lifting and material handling equipment. "We have bought and sold equipment at past Ritchie Bros. auctions and have always found this to be a channel that fits our needs to sell and realign our fleet or acquire new equipment - like today - when it is necessary. We also find the Ritchie Bros. team to be professional and trustworthy."

"We had two exciting days at our auction sites in Ocaña and Moncofa last week," said Valero Serentill, Regional Sales Manager, Ritchie Bros. Auctioneers. "We welcomed a large and diverse crowd of online and on-site bidders, which created a strong competitive bidding environment here in Spain. Excitement peaked when the selection of mobile cranes was sold on the second day of the auction, with bidder activity from North and South America as well as the far East. One key auction highlight was when the Terex Demag AC700 received the highest bid ever placed on an all terrain crane at a Ritchie Bros. auction ever!"

Other crane highlights from last week's unreserved public auction in Spain included:

• A 2008 Faun ATF90G4 90 Ton 8x8x8 all terrain crane that sold for €400,000
• A 2007 Faun ATF110G5 110 Ton all terrain crane that sold for €510,000
• A 2007 Faun ATF220G5 220 Ton all terrain crane that sold for €675,000
• Two 2007 Faun ATF65G4 65 Ton 8x6x8 all terrain cranes that sold for €270,000 each
• 2004 Liebherr LTM1045-3.1 45 Ton all terrain crane that sold for €180,000
• 2005 Liebherr LTM1030-2.1 30 Ton 4x4x4 all terrain crane that sold for €122,500

"The crane and other industrial equipment line-up from last week's auction shows the continuing confidence of crane and other equipment owners in Ritchie Bros. unreserved public auctions and our ability to reach the widest audience of interested bidders on auction day," added Mr. Serentill.

The next Ritchie Bros. unreserved public auction in Spain will be another simulcast event to be held at the Company's permanent auction sites in Ocaña and Moncofa in September. For information on how to consign equipment to the upcoming Ocaña/Moncofa unreserved public auction in September, call the Ritchie Bros. permanent auction sites in Ocaña (+34.925.157.580), Moncofa (+34.964.580.559) or visit www.rbauction.com.

The Ritchie Bros. auction calendar currently features more than 90 unreserved public auctions around the world, including auctions featuring large selections of cranes in Moerdijk, The Netherlands (June 13 & 14); St. Aubin sur Gaillon, France (June 18); Houston, Texas (June 19 & 20) and Minneapolis, Minnesota (June 27). Visit www.rbauction.com for a complete list of upcoming auctions.